Miscellaneous

The dream of equal, fair, and expanded access to credit in low-income communities was never more within the nation’s grasp. Three decades ago credit for home mortgages and other asset building opportunities was far less widely available than it is today. Until recently, if an applicant’s credit history was marred by past payment problems he or she was rejected for a loan and could not get one at any price. Now the amount of savings a mortgage applicant needs to qualify for a loan is reduced as a share of property value and transaction costs in mortgage finance declined.

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A decade of unprecedented growth in the rental housing market may be coming to an end. Fewer new renter households are being formed, rental vacancy rates have risen, and rent increases have slowed. At the same time, renter demographics are changing and nearly 21 million households continue to pay more than 30 percent of their income for rent.